Daily Pivots: (S1) 0.8864; (P) 0.8884; (R1) 0.8918; More…

Intraday bias in EUR/GBP remains neutral as consolidation form 0.8902 is in progress. Another fall cannot be ruled out but downside should be contained well above 0.8681 resistance turned support to bring rally resumption. On the upside, break of 0.8902 will turn bias back to the upside and target 0.9101 key resistance next.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8526). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

Daily Pivots: (S1) 0.8594; (P) 0.8612; (R1) 0.8636; More….

Intraday bias in EUR./GBP stays neutral for the moment, and further decline is expected with 0.8648 support turned resistance intact. on the downside, break of 0.8548 will resume the fall from 0.8764 to 0.8491 support next. Firm break there will resume larger down trend. However, sustained break of 0.8648 will turn bias to the upside for stronger rebound.

In the bigger picture, current development suggests that down trend from 0.9267 (2022 high) is still in progress. This decline is seen as the third leg of the pattern from 0.9499 (2020 high). Break of 0.8201 will target 100% projection of 0.9499 to 0.8201 from 0.9267 at 0.7969. In any case, outlook will stay bearish as long as 0.8764 resistance holds.

Daily Pivots: (S1) 0.8543; (P) 0.8552; (R1) 0.8565; More…

No change in EUR/GBP and intraday bias remains neutral for the moment. On the downside, break of 0.8497 will resume recent fall to 0.8464 projection level. However, considering bullish convergence condition in 4H MACD, sustained break of 0.8571 will confirm short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

Daily Pivots: (S1) 0.9043; (P) 0.9096; (R1) 0.9131; More…

EUR/GBP’s recovery was limited below 0.9157 minor resistance and intraday bias remains neutral first. Corrective fall from 0.9324 should be contained by 0.8891/9051 support zone to bring rebound. On the upside, break of 0.9157 will turn bias back to the upside for retesting 0.9324. However, sustained break of 0.8891 will target 61.8% retracement of 0.8472 to 0.9324 at 0.8797 and below.

In the bigger picture, up trend from 0.6935 (2015 low) should be resuming. Sustained break of 0.9305 will confirm and target 0.9799 (2008 high) and then 61.8% projection of 0.6935 to 0.9305 from 0.8472 at 0.9937. In any case, medium term outlook will remain bullish as long as 0.8891 support holds, in case of deep pull back. However, sustained break of 0.8891 will dampen this bullish view and focus would be back on 0.8472 key support.

Daily Pivots: (S1) 0.8396; (P) 0.8423; (R1) 0.8454; More…

Intraday bias in EUR/GBP is turned neutral with a temporary low formed at 0.8383. The corrective structure of price actions from 0.8529 is favoring more upside in the cross. Break of 0.8508 will extend the rebound from 0.8312 to 0.8786 resistance next. On the downside, below 0.8383 will turn bias to the downside for 0.8303/8312 support zone instead. Overall, EUR/GBP is staying in the corrective pattern from 0.9304 which will extend for a while.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. In case of deeper fall, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Rise from 0.6935 (2015 low) will resume at a later stage to 0.9799 (2008 high). However, sustained break of 0.8116 could bring deeper decline to next key support level at 0.7564 before the correction completes.

Daily Pivots: (S1) 0.8510; (P) 0.8522; (R1) 0.8540; More…

No change in EUR/GBP’s outlook as range trading continues. Intraday bias stays neutral for the moment. On the downside decisive break of 0.8491/7 support zone will confirm larger down trend resumption and target 0.8464 projection level first. Nevertheless, firm break of 0.8577 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 0.8764 is seen as another leg in the whole down trend from 0.9267 (2022 high). Outlook will stay bearish as long as 0.8713 resistance holds. Break of 0.8491 will target 61.8% projection of 0.8977 to 0.8491 from 0.8764 at 0.8464.

Daily Pivots: (S1) 0.8809; (P) 0.8842; (R1) 0.8867; More…

At this point, EUR/GBP is still bounded in range of 0.8732/9032 and intraday bias remains neutral. With 0.9032 resistance intact, deeper decline is mildly in favor in the cross. Break of 0.8732 will resume the fall from 0.9305 and target 0.8303 key support level. However, on the upside, decisive break of 0.9032 will confirm completion of the decline from 0.9305. In such case, intraday bias will be turned back to the upside for retesting 0.9305 key resistance.

In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 0.8512; (P) 0.8538; (R1) 0.8568; More…

Intraday bias in EUR/GBP remains neutral at this point. Some more consolidation could be seen. But further rise remains mildly in favor as long as 0.8746 minor support holds. On the upside, above 0.8591 will target 38.2% retracement of 0.9324 to 0.8276 at 0.8676. On the downside, break of 0.8476 minor support will turn bias to the downside for retesting 0.8276 low instead.

In the bigger picture, fall from 0.9324 medium term top is still in progress. 38.2% retracement of 0.6935 to 0.9324 at 0.8411 was firmly taken out. Further decline should now be seen to 61.8% retracement at 0.7848 next. In any case, further decline would remain in favor as long as 0.8786 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8366; (P) 0.8401; (R1) 0.8433; More…

Intraday bias in EUR/GBP remains mildly on the upside for 0.8476 key structural resistance Firm break there will carry larger bullish implication. On the downside, break of 0.8315 minor support will retain near term bearishness, and bring retest of 0.8201 low.

In the bigger picture, the down trend from 0.9499 is expected to continue as long as 0.8476 resistance holds. Sustained trading below 0.8276 support will argue that the whole up trend from 0.6935 (2015 low) has reversed. Deeper fall should be seen to 61.8% retracement of 0.6935 to 0.9499 at 0.7917 next. However, firm break of 0.8476 will indicate medium term bottoming at least. Focus will be back on 55 week EMA (now at 0.8534) for more evidence of bullish reversal.

Daily Pivots: (S1) 0.8796; (P) 0.8839; (R1) 0.8892; More

EUR/GBP is staying above 0.8773 low and intraday bias remains neutral for the moment. More consolidations could be seen. But near term outlook stays bearish as long as 0.8981 cluster resistance holds (38.2% retracement of 0.9305 to 0.8773 at 0.8976). Fall from 0.9305 is seen as the third leg of consolidation pattern from 0.9304. Below 0.8773 will target 61.8% retracement of 0.8312 to 0.9305 at 0.8691 and below. We’ll look for bottoming signal again at it approaches 0.8303 support.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s still in progress with fall from 0.9305 as the third leg. Break of 0.8303 could be seen. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

EUR/GBP dropped to 0.8828 last week but quickly recovered back above 0.8861 key support. Initial bias stays neutral this week first. On the downside, firm break of 0.8828, and sustained trading below 0.8861 will target 0.8670 support, as the third leg of pattern from 0.9499. On the upside, though, break of 0.8923 resistance will confirm defense of 0.8861. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.8987) first.

In the bigger picture, we’re seeing the price actions from 0.9499 as developing into a corrective pattern. That is, up trend from 0.6935 (2015 low) would resume at a later stage. This will remain the favored case as long as 0.8276 support holds. Decisive break of 0.9499 will target 0.9799 (2008 high).

In the long term picture, rise from 0.6935 (2015 low) is still in progress. It could be resuming long term up trend from 0.5680 (2000 low). Break of 0.9799 (2008 high) is expected down the road, as long as 0.8276 support holds.

Daily Pivots: (S1) 0.8722; (P) 0.8739; (R1) 0.8756; More…

Intraday bias in EUR/GBP remains neutral with mixed near term outlook. On the downside, break of 0.8679 support should confirm completion of the rebound form 0.8620. And intraday bias will be turned back to the downside for this support. Whole decline from 0.9305 will likely be resuming too. On the upside, above 0.8844 will resume the rebound from 0.8620 and target 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963).

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 0.8651; (P) 0.8671; (R1) 0.8701; More….

Intraday bias in EUR/GBP stays neutral first. On the upside, decisive break of 0.8700/4 resistance will resume the rebound from 0.8491, and carry larger bullish implications. Nevertheless, break of 0.8614 will turn bias to the downside to resume the fall from 0.8704 instead.

In the bigger picture, the down trend from 0.9267 (2022 high) is seen as part of the long term range pattern from 0.9499 (2020 high). Decisive break of 0.8700 resistance will argue that this decline has completed with three waves down to 0.8491. Rise from 0.8491 could then be another leg inside the pattern and targets 0.8977 and above. However, rejection by 0.8700 will keep the down trend alive for another fall through 0.8491 at a later stage.

EUR/GBP rebounded towards the end of the week but stayed in range below 0.8879. Outlook is unchanged and initial bias remains neutral this week first. On the downside, break of 0.8718 support will argue that rise from 0.8312 has completed. In that case, intraday bias with be turned back to the downside for lower side of the range at 0.8312. Meanwhile, break of 0.8879 and sustained trading above 0.8851 will pave the way to retest 0.9304 high.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It’s uncertain whether it is finished yet. But in case of another fall, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes.

In the long term picture, firstly, price action from 0.9799 (2008 high) is seen as a long term corrective pattern and should have completed at 0.6935 (2015 low). Secondly, rise from 0.6935 is likely resuming up trend from 0.5680 (2000 low). Thirdly, this is supported by the impulsive structure of the rise from 0.6935 to 0.9304. Hence, after the correction from 0.9304 completes, we’d expect another medium term up trend to target 0.9799 high and above.

Daily Pivots: (S1) 0.8788; (P) 0.8817; (R1) 0.8843; More…

Intraday bias in EUR/GBP stays neutral at this point. With 0.8866 resistance intact, near term outlook remains mildly bearish and deeper fall is expected. Break of 0.8688 will extend the fall from 0.9305 and target 61.8% projection of 0.9305 to 0.8745 from 0.8981 at 0.8468 first and then 100% projection at 0.8151 next. However, break of 0.8866 resistance will indicate near term reversal and turn bias back to the upside for 0.8981 resistance instead.

In the bigger picture, there are various ways to interpret price actions from 0.9304 high. But after all, firm break of 0.9304/5 is needed to confirm up trend resumption. Otherwise, range trading will continue with risk of deeper fall. And in that case, EUR/GBP could have a retest on 0.8303. But we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 0.8476; (P) 0.8502; (R1) 0.8515; More…

Intraday bias in EUR/GBP remains neutral for the moment. Rise from 0.8201 is still in favor to continue as long as 0.8365 support holds. On the upside, break of 0.8617 will resume such rise to 0.8697 medium term fibonacci level. However, break of 0.8365 will dampen this bullish view, and turn bias back to the downside instead.

In the bigger picture, a medium term bottom could be in place at 0.8201, on bullish convergence condition in daily and weekly MACD. Rise from there could either be a correction to the down trend from 0.9499 (2020 high), or a medium term up trend itself. In either case, further rise should be seen to 38.2% retracement of 0.9499 to 0.8201 at 0.8697. Sustained break there will target 61.8% retracement at 0.9003.

Daily Pivots: (S1) 0.8795; (P) 0.8831; (R1) 0.8883; More…

Intraday bias in EUR/GBP stays on the upside for the moment with focus on 0.8851 resistance. Decisive break there will extend the rally from 0.8312 to retest 0.9304 high. At this point, there is no clear sign of larger up trend resumption yet. Hence, we’ll be cautious on topping around 0.9304. On the downside, below 0.8778 minor support will turn intraday bias neutral first. But outlook will remains bullish as long as 0.8639 support holds. But break of 0.8639 support will now indicate near term topping and bring deeper pull back to 55 day EMA (now at 0.8601) and below.

In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. The leg from 0.9304 should have completed after testing 0.8332 structural support. But it’s too early to say that larger rise from 0.6935 is resuming. Rejection from 0.9304 will extend the consolidation with another falling leg. Meanwhile, firm break of 0.9304 will target 0.9799 (2008 high). In case of another decline, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound.

Daily Pivots: (S1) 0.8567; (P) 0.8605; (R1) 0.8632; More…

EUR/GBP retreated ahead of 0.8668 key structural resistance and intraday bias is turned neutral first. On the upside, sustained break of 0.8668 will be a strong sign of larger bullish reversal. Next target will be 161.8% projection of 0.8448 to 0.8612 from 0.8499 at 0.8764. On the downside, though, break of 0.8499 will bring retest of 0.8448 low instead.

In the bigger picture, price actions from 0.9499 (2020 high) are still seen as developing into a corrective pattern. Deeper fall could be seen as long as 0.8668 resistance holds, towards long term support at 0.8276. However, firm break of 0.8668 resistance would argue that a medium term bottom was already formed. Stronger rise would be seen to 0.8861 support turned resistance to confirm completion of the corrective pattern.

Daily Pivots: (S1) 0.8526; (P) 0.8551; (R1) 0.8596; More…

Intraday bias in EUR/GBP is turned neutral with current recovery, and some consolidations could be seen. Near term outlook will stay bearish as long as 0.8657 resistance holds. Break of 0.8502 will resume larger decline from 0.8977 to 61.8% projection of 0.8874 to 0.8517 from 0.8650 at 0.8436.

In the bigger picture, the down trend from 0.9267 (2022 high) is still in progress. It’s seen as part of the long term range pattern from 0.9499 (2020 high). Deeper fall could be seen towards 0.8201 (2022 low). But strong support should be seen from there to bring reversal. This will now remain the favored case as long as 0.8657 resistance holds.

Daily Pivots: (S1) 0.8852; (P) 0.8884; (R1) 0.8924; More…

The break of 0.8901 suggests that rise from 0.8620 has resumed again. Intraday bias is back on the upside for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). While upside momentum has been unconvincing, there is no sign of topping before a break of 0.8815. So, outlook remains cautiously bullish as long as 0.8815 holds, in case of retreat.

In the bigger picture, EUR/GBP is staying in long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we’d be cautious on strong resistance from 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we’d expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.